SHFE lead dived under pressure, recording a large bearish candlestick with no upper shadow [Brief Commentary on SHFE Lead]

SMM, May 22, 2025

The most-traded SHFE lead 2507 contract opened at 16,835 yuan/mt today. As the US dollar index attempted a rebound, non-ferrous metals came under pressure and generally declined. SHFE lead plunged, reaching a low of 16,670 yuan/mt in the closing session, and eventually closed at 16,685 yuan/mt, down 1.27%, with an open interest of 45,301 lots, recording a bald bearish candlestick. Trading sentiment in the spot market remained relatively unchanged. As secondary lead smelters significantly reduced their purchase quotes for scrap batteries, the cost support for lead prices was weakened, and lead prices are likely to maintain a downward trend in the near future.

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